Nothing exemplifies the irrational utility business model more than the billions of dollars companies have wasted on the massive buildout of natural gas capacity over the last decade, ignoring obvious market trends favoring renewables and energy storage.
One great tool to end this financial mismanagement would be enforcing the once prominent “used and useful” standard through which states could mandate that new power plants be completed and providing service before a utility can recover costs from ratepayers. And those generation resources must remain economic, or useful, throughout their lifecycles.